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Fintech firm Ripple has put its plans to become a public company on hold after exploring markets outside the U.S. 
The San Francisco-headquartered company <a href="https://crypto.news/tag/ripple/" target="_blank" rel="noreferrer noopener">Ripple</a> has paused its plans for an initial public offering (<a href="https://crypto.news/tag/ipo/" target="_blank" rel="noreferrer noopener">IPO</a>) after <a href="https://crypto.news/ripple-labs-plans-to-repurchase-285m-stake-in-tender-offer/">reports</a> revealed that the firm started buying back hundreds of millions of dollars worth of shares from its shareholders. 
In an <a href="https://www.cnbc.com/2024/01/17/crypto-firm-ripple-explored-ipo-outside-us-but-wont-go-public-soon.html" target="_blank" rel="noreferrer noopener">interview</a> with CNBC, Ripple CEO <a href="https://crypto.news/tag/brad-garlinghouse/" target="_blank" rel="noreferrer noopener">Brad Garlinghouse</a> confirmed the buyback, revealing that the company has repurchased $1 billion of its shares so far. While keeping the option for an IPO open, Garlinghouse emphasized that going public is not an immediate priority right now. 
<blockquote class="wp-block-quote"> 
 “And we’ll evaluate again [going public], as we have new regulators sitting at the United States SEC.” 
 Brad Garlinghouse 
</blockquote> 
 You might also like: <a href="https://crypto.news/whales-respond-to-ripples-285m-buy-back-plan-xrp-price-rally-imminent/"> Whales respond to Ripple’s $285m buy-back plan: XRP price rally imminent? </a> 
Addressing the share buybacks, Garlinghouse highlighted the importance of providing liquidity to long-term investors who supported the company since 2012. 
<blockquote class="wp-block-quote"> 
 “You know, shareholder liquidity is important to me. We have investors that first invested in Ripple in 2012. So they’ve been in this deal for eleven-and-a-half years. And so we want to provide that liquidity, which is one of the reasons why we’ve done these tender offers.” 
 Brad Garlinghouse 
</blockquote> 
The decision to halt plans for a U.S. IPO Garlinghouse attributed to a “very hostile regulator,” adding that the firm “looked at other jurisdictions that have clear rules of the road,” but has not disclosed whether a suitable jurisdiction for going public has been found. 
 Read more: <a href="https://crypto.news/circle-files-for-ipo-in-us/"> Circle files for IPO in US </a>

Ripple’s Garlinghouse confirms IPO plans are on hold for now

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